| a note payable upon presentation. |
| demand note n. A bill or draft payable in lawful money upon presentation or demand. |
Demand Note
A loan with no fixed term or set duration of repayment. It can be recalled upon the lenders request, assuming the notice required by the provisions of the loan are met.
Investopedia Commentary
A demand note provides flexibility for the borrower, so long as the lender does not wish to call back the loan. Also referred to as a demand loan.
See also: Corporate Finance, Interest Rate, Loan